Nitrous Oxide Market, By Product (Food Grade, Industry Grade, and Medical Grade), By Application (Electronics, Medical, Food and beverages, and Automotive)

COVINA, CALIFORNIA , UNITED STATES, May 4, 2023/EINPresswire.com/ -- Nitrous oxide (N2O) is a colorless, odorless gas with a slightly sweet taste. It is also known as "laughing gas" due to its use as an anesthetic and recreational drug. Nitrous oxide is a greenhouse gas that is primarily produced by human activities, such as agriculture and transportation. It is also naturally produced by microbial activity in soil and water.
In addition to its use as an anesthetic and recreational drug, nitrous oxide has several industrial and commercial applications. It is commonly used as a propellant in whipped cream dispensers, as a coolant in rocket engines, and as an oxidizer in hybrid rocket engines. Nitrous oxide is also used as a welding and cutting gas, and as a component in some semiconductor manufacturing processes.

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. BASEYEAR: 2022

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Nitrous Oxide Market by trend:

The trend of nitrous oxide (N2O) is primarily related to its impact on the environment. Nitrous oxide is a potent greenhouse gas that contributes to global warming and climate change. Its atmospheric concentration has been increasing over time due to human activities, particularly agricultural practices such as the use of synthetic fertilizers and animal manure.
In recent years, there has been growing concern about the environmental impact of nitrous oxide and efforts to reduce its emissions. The United Nations Framework Convention on Climate Change (UNFCCC) includes nitrous oxide in its list of greenhouse gases that must be reduced under the Kyoto Protocol. Many countries have implemented measures to reduce nitrous oxide emissions, such as improving agricultural practices and reducing the use of synthetic fertilizers.

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Segmentation:

Demographic segmentation: dividing a market based on characteristics such as age, gender, income, education, and occupation.
Geographic segmentation: dividing a market based on location, such as country, region, city, or climate.
Psychographic segmentation: dividing a market based on personality traits, values, interests, and lifestyle.
Behavioral segmentation: dividing a market based on behavior such as buying habits, usage rate, loyalty, and response to marketing stimuli.

Key players:

• Praxair Technology, Inc.
• Oxygen & Argon Works Ltd
• Linde Group, Matheson Tri-Gas, Inc.
• SOL S.p.A.
• MERCK Kommanditgesellschaft auf Aktien
• Air Liquide International S.A.
• Airgas, Inc.
• Ellenbarrie Industrial Gases Ltd.
• Promas Engineers Pvt. Ltd.
• S S Gas Lab Asia Pvt Ltd
• KVK Corporation
• Carbide Chemical Limited.

Key Highlights:

Growing demand: The global market accounted for US$ 0.9 billion in 2019 and is projected to register a moderate CAGR of 7.0% over the forecast period. The market report has been segmented on the basis of product, application, and region.
Environmental concerns: Nitrous Oxide is a potent greenhouse gas that contributes to global warming and climate change. As a result, there is growing concern about the environmental impact of Nitrous Oxide production and use. Several initiatives have been launched to reduce Nitrous Oxide emissions, including the United Nations Framework Convention on Climate Change.
Medical applications: Nitrous Oxide is used as a general anesthetic in medical procedures and is also used for pain management in dentistry. It is considered a safe and effective option for anesthesia and is preferred by many patients due to its rapid onset and recovery time.

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Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global Nitrous Oxide Market, by Product (Food Grade, Industry Grade, and Medical Grade), by Application (Electronics, Medical, Food and beverages, and Automotive), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) - forecast till 2029

Key Market Insights from the report:

The global market accounted for US$ 0.9 billion in 2019 and is projected to register a moderate CAGR of 7.0% over the forecast period. The market report has been segmented on the basis of product, application, and region.

• By product, medical grade segment accounted for major revenue share in 2019. Nitrous oxide gas used an anesthetics agent as well as pain reducing agents are some factors expected to support growth of this segment over the forecast period.
• By application, the application segment holds for major revenue share in 2019, and expected to register a CAGR of X% over the forecast period. Increasing end-use applications of nitrous oxide gas in clinics, hospitals and dental clinics for various procedures is in turn expected to boost growth of the segment over the forecast period.
• By region, North America nitrous oxide market accounted for major revenue share of the global nitrous oxide market and is further anticipated to maintain its dominance over the forecast period. Presence of key manufacturers, coupled with increasing use of nitrous oxide in medical as well as non-medical sector. The Europe market is expected to account for second highest revenue share in the global market in 2019.

Nitrous Oxide industry by demand:

Automotive industry: Nitrous Oxide is used in automotive racing and performance vehicles to increase engine power and speed. The increasing popularity of automotive racing has led to a growing demand for Nitrous Oxide.
Medical industry: Nitrous Oxide is used as a general anesthetic in medical procedures and for pain management in dentistry. The demand for Nitrous Oxide in the medical industry is increasing due to its safety and effectiveness in anesthesia.
Semiconductor manufacturing: Nitrous Oxide is used in some semiconductor manufacturing processes as a component in chemical vapor deposition. The growing demand for semiconductors for electronic devices has led to an increase in Nitrous Oxide demand in this industry.

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